Investing.co -- BankUnited, Inc. (NYSE: BKU) reported third quarter results on Wednesday, with adjusted earnings per share of $1.03, matching analyst estimates of $1.03.

Shares of the company were unchanged in after-hours trading following the release.

The bank posted net interest income of $260.7 million, up 4% from $250.1 million in the third quarter of 2025. Net interest margin expanded to 3.16%, up 16 basis points YoY and 10 basis points from the prior quarter, exceeding the company’s guidance. Average non-interest bearing demand deposits increased $824 million, or 10%, YoY to $9.0 billion, while the average cost of deposits improved 39 basis points YoY to 1.99%.

"We delivered another quarter of solid performance, with continued deposit momentum and net interest margin expanding to 3.16%, ahead of our guidance," said Chairman, President and Chief Executive Officer Rajinder Singh.

Net income reached $72.2 million, or $1.01 per diluted share on a GAAP basis, compared to $71.9 million, or $0.95 per share, in the year-ago quarter. Adjusted diluted EPS of $1.03 increased $0.09 YoY, excluding the impact of a $2.3 million loss on investment securities sales.

Credit quality remained strong, with net charge-offs at 0.11% of average loans, down from 0.25% a year ago. Non-performing loans increased $40 million, or 18%, from the prior quarter to $263.9 million, but declined $116 million, or 30%, YoY. The allowance for credit losses stood at $221.5 million, or 0.93% of total loans.

The company repurchased approximately 2.1 million shares during the quarter for $97.0 million.

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